ZZ Color Retracement
Automation of many constructions, including even such simple, as the construction of channels, determining the trend (higher highs / lower lows) or, finally, the use of nets Fibonacci, requires the allocation of "pure motion", that is, pass rates from the local minimum to the local maximum and from a local maximum to a local minimum. The task of finding such movements, as well as the local maxima and minima perfectly solves the ZigZag indicator.
Earlier me a simple search algorithm was proposed by the local maxima and minima, implemented in the indicator Simple ZigZag. The main difference from the display Simple ZigZag regular analog is much more simple and fast algorithm, as well as setting a single parameter - the depth of a typical correction.
Indicator ZZ Color Retracement is a development of the idea of automating analytical constructs on the basis of a zigzag. In particular, the indicator is shown allocates significant impulse movement, which turns blue. Short corrective movement are highlighted in red, to the flat portions of medium size are painted in neutral gray.
The following parameters are used to configure the display:
- Typical retracement size - the size of a typical correction. Parameter got indicator inherited from "parent" - Simple ZigZag.
- Moves averaging period - the number of the zigzag movements used to calculate the sliding "movement average".
- Percentage difference - the ratio of the threshold of the last movement of the zigzag passage to the moving average. If the ratio is greater than 1 + parameter, the movement is considered to be impulsive; if it is less than 1 - the parameter is considered corrective movement; If the middle ([1 - parameter setting + 1]), the motion is considered to the flat.
After we learned ZigZag indicator to allocate the pulse passes, the next step will be to use the Fibonacci grid.
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